The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1887-06-08
BUSINESS OUTLOOK.
Copious Rains Dispel Agricultural Gloom in
the West and Southwest.
Eject OF the Interstate Act-Large Absorb
ton of Money by the National Treas
ury-Business Failures Decreasing.

NEW YORK, June 3-R. g. Dun d Co,
in their weekly review OF trade, say the
one fact of the week is likely to prove most
important is the large absorb ion OF money
by the treasury. OF the interstate law
there is less said, pending the decision of
the commission as to continuance OF sus-
pension. In some quarters the new law is
clearly regarded with favor, particularly
where transfer of business from larger CEN
tiers results, or where first uniavoTable Ell
fects seem to have passed away. But it is
safe to remember that the full effect of the
law has not been felt as yet, because Oh
temporary suspensions.
Reports are cheering as to crops and gen.
orally favorable as to state of business, col
lecti0ns and supply OF money. "Copious
rains dispel agricultural gloom" In Wis
consip; crop prospects are frightened by
rain in Texas, and the rains give encourage
ment IN Alsbama.
The speculation in coffee hsisted the
price again, regardless of demand. Oil
dealings have been stagnant. Pork has
been a shade lower, with hogs, lard and
beef a shade higher, and sugar unchanged.
New England boot and shoe makers are
receiving large orders and doing an increas'
| ing business
The great sale of aannels embraced 10, 900
lots valued at 81, 5O0, 900, and prices realized
were evidently satisfactory. The effort
| much encouraged dealers in woolens gen.
orally, and though little improvement is
seen in demand for cloths il is plain that
wool growers and manufacturers are grad
| ually approaching each other. Western
growers are reported as pleased at sales
| generally a little above prices not long ago
| deemed intolerable, medium being espe-
cially strong. While manufacturers appear
to be buying largely, in spite OF the feeling
that prices are not warranted by the pres
ent market for goods, considerable orders
are reported for blankets for dress goods.
| Cotton goods are strong, some grades adj
| vsncing and the corner" continues to
hoist prices Of cotton in spite of good crop
prospects.
The wheat speculation still RACES, but
with prices lower than a week ago, and a
growing doubt whether even the powerful
clique can escape loss Receipts are large,
the supply in the country clearly beyond
all demands, and the crop prospects salts
fsctcry. In such circumstances ii is not
strange that Chicago banks want no more
wheat paper and per cent. is bid for loans
Oh wheat collateral.
The iron market shows better tone, but
the demand for products of iron and steel
does not appear to improve
Railroad stocks have been Uncertain,
with some tendency to reaction.
The business failures during the last
seven days number, for the United States.
125; for Canada. %; total, $50, against LIS
last week and 1S7 for the correspondents
week last year. Failures are steadily di.
miDishing in all sections of the country,
especially in the Western States, where the
number for this week is the smallest re-
corded for years, the figures for the West
eTn and Pacific States being but 81, al
| told.